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JONBUR Research · Initiation

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Lunit · 328130 · Software

Lunit: Revenue Growing Fast, Losses Persist, Shares Rebound 44.2% in a Month

Why this report

Start of coverage: written when a reader opened this company and there was no report yet.

Lunit's trailing revenue reached ₩91.8B with an operating margin of -76.4%, while the share price rose 44.2% over one month but is still 43.2% lower over one year. Recent filings show repeated convertible bond activity and conversion price adjustments, and no valuation model estimate is available.

Written Oct 18, 2026 · Data as of Oct 16, 2026 · 0 views

This is not financial advice. The report does not recommend buying or selling anything.

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Thesis

The data supports a story of rapid revenue growth and narrowing losses relative to sales. Revenue grew 53.4% in 2025 after 116.0% in 2024, and the operating margin improved from -365.3% in 2022 to -100.0% in 2025 and -76.4% on a trailing basis. The data does not show a path to profit: operating income, net income and free cash flow are all still negative, and no earnings-based multiple can be calculated. The recent price rebound has been driven by retail buying, with foreigners and institutions net sellers over 20 days, and foreign ownership fell from 12.7% to 10.1% in 60 days. News headlines are not available, so the cause of the rebound cannot be identified from the data.

Business overview

Lunit is a Software company listed on KOSDAQ since July 21, 2022, founded on August 23, 2013, with 74,458,180 listed shares. Market capitalization is about ₩881.6B and enterprise value about ₩739.1B. Annual revenue rose from ₩13.9B in 2022 to ₩25.1B in 2023, ₩54.2B in 2024 and ₩83.1B in 2025. The data gives no segment or product breakdown.

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Model estimate of fair value

The valuation model has no estimate for this company yet (not enough data, or no positive value with the base case).

Filings and data used

Report history

  1. Oct 28, 2026Update noteBig price moveLunit Shares Rise 15.7% in Five Days on Heavy Volume After Summit Collaboration News
  2. Oct 18, 2026InitiationStart of coverage (reader request)Lunit: Revenue Growing Fast, Losses Persist, Shares Rebound 44.2% in a Month

Built only from jonbur's own data: prices and investor flows, filed financial statements and filings, and news headlines. Disclosed (filed) data is labelled as such. Written by AI and may contain mistakes.

This is not financial advice. The report does not recommend buying or selling anything.

Source: KRX statistical information